Webster Financial Co. (NYSE:WBS – Get Rating) – Stock analysts at Wedbush decreased their Q2 2023 earnings per share (EPS) estimates for shares of Webster Financial in a note issued to investors on Thursday, April 20th. Wedbush analyst D. Chiaverini now anticipates that the financial services provider will post earnings of $1.53 per share for the quarter, down from their prior forecast of $1.56. Wedbush currently has a “Neutral” rating and a $55.00 target price on the stock. The consensus estimate for Webster Financial’s current full-year earnings is $6.21 per share. Wedbush also issued estimates for Webster Financial’s Q3 2023 earnings at $1.52 EPS, Q4 2023 earnings at $1.55 EPS, FY2023 earnings at $6.10 EPS, Q1 2024 earnings at $1.56 EPS, Q2 2024 earnings at $1.69 EPS, Q3 2024 earnings at $1.85 EPS and Q4 2024 earnings at $1.90 EPS.
WBS has been the topic of several other research reports. StockNews.com downgraded Webster Financial from a “hold” rating to a “sell” rating in a research report on Thursday, March 30th. UBS Group began coverage on Webster Financial in a research note on Wednesday, March 15th. They set a “buy” rating and a $56.00 price objective for the company. Raymond James decreased their price objective on Webster Financial from $60.00 to $56.00 and set an “outperform” rating for the company in a research note on Thursday, April 6th. JPMorgan Chase & Co. decreased their price objective on Webster Financial from $54.00 to $40.00 in a research note on Thursday, April 6th. Finally, Wells Fargo & Company decreased their price target on Webster Financial from $55.00 to $50.00 in a research note on Friday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Webster Financial currently has an average rating of “Hold” and an average price target of $55.70.
Webster Financial Stock Performance
Webster Financial (NYSE:WBS – Get Rating) last posted its quarterly earnings results on Thursday, April 20th. The financial services provider reported $1.49 EPS for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.07). The business had revenue of $666.00 million during the quarter, compared to analysts’ expectations of $708.96 million. Webster Financial had a return on equity of 13.39% and a net margin of 28.33%. The firm’s revenue for the quarter was up 33.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.24 earnings per share.
Institutional Trading of Webster Financial
Large investors have recently made changes to their positions in the company. Red Tortoise LLC purchased a new position in shares of Webster Financial during the 4th quarter worth approximately $25,000. New England Capital Financial Advisors LLC purchased a new position in shares of Webster Financial during the 4th quarter worth approximately $30,000. Neo Ivy Capital Management purchased a new position in shares of Webster Financial during the 2nd quarter worth approximately $32,000. EverSource Wealth Advisors LLC raised its stake in shares of Webster Financial by 226.8% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 889 shares of the financial services provider’s stock worth $40,000 after buying an additional 617 shares in the last quarter. Finally, Covestor Ltd increased its stake in Webster Financial by 113.9% in the 1st quarter. Covestor Ltd now owns 1,074 shares of the financial services provider’s stock valued at $60,000 after purchasing an additional 572 shares in the last quarter. 85.86% of the stock is owned by institutional investors and hedge funds.
Webster Financial Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 17th. Stockholders of record on Monday, February 6th were issued a $0.40 dividend. The ex-dividend date was Friday, February 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.14%. Webster Financial’s payout ratio is currently 32.45%.
Webster Financial Company Profile
Webster Financial Corp. is a holding company, which engages in the provision of financial services to individuals, families, and businesses. It operates through the following business segments: Commercial Banking, HSA Bank, and Retail Banking. The Commercial Banking segment includes commercial banking and private banking.
Recommended Stories
- Get a free copy of the StockNews.com research report on Webster Financial (WBS)
- MarketBeat Week in Review – 4/17 – 4/21
- 2 Industrial Strength Dividend Stocks Melting Up
- Proctor & Gamble Is Going To Set A New High
- AutoNation’s Plans are Keeping Analysts Around
- Netflix Increases Buybacks: Can It Complete A Reversal In 2023?
Receive News & Ratings for Webster Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Webster Financial and related companies with MarketBeat.com's FREE daily email newsletter.
